The accounts of Red River Services, Inc., al January 31, 2018, are listed in alphabetical order. Click the icon to view the accounts.) The Relained Earnings T-account is shown below: (Click the icon to view the T-account.) Read the requirements. Requirement 1. Prepare the company's classified balance sheet at January 31, 2018. Complete the assets section in the first step. followed by the liabilities section in the second step, and the shareholders' equity section in the third step. (If a box is not used in the balance sheet leave the box empty: do not select a label or enter a zero.) Red River Services, Inc. Balance Sheet January 31, 2018 Assets Choose from any list or enter any number in the input fields and then continue to the next question. The accounts of Red River Services, Inc., at January 31, 2018, are listed in alphabetical order. B! (Click the icon to vlew the accounts.) The Retained Earnings T-account is shown below: (Click the icon to view the T-account.) Read the requirements. Less: Liabilities Choose from any list or enter any number in the input fields and then continue to the next question. The accounts of Red River Services, Inc., at January 31, 2018. are listed in alphabetical order. : (Click the icon to view the accounts.) The Retained Earnings T-account is shown below: (Click the icon to view the T-account.) Read the requirements. Stockholders' Equity Requirement 2. Calculate Red River's net working capital, current ratio, and debt ratio at January 31, 2018. rounding to two decimal places. At January 31, 2017, net working capital was $23,500, the current ratio was 1.75, and the debt ratio was 0.15. Did Red River's ability to pay both current and total debts improve or deteriorate during the fiscal year? Evaluate Red River's debt position as strong or weak and give your reason. Compute Red River's networking capital at January 31, 2018. = Networking capital Choose from any list or enter any number in the input fields and then continue to the next question. Requirement 2. Calculate Red River's net working capital, current ratio, and debt ratio at January 31, 2018, rounding to two decimal places. At January 31, 2017, net working capital was $23,500, the current ratic was 1.75, and the debt ratio was 0.15. Did Red River's ability to pay both current and total debts improve or deteriorate during the fiscal year? Evaluate Red River's debt position as strong or weak and give your reason. Compute Red River's net working capital at January 31, 2018. = Net working capital Compute Red River's current ratio at January 31, 2018. (Round your calculation to two decimal places.) = Current ratio = Now calculate Red River's debt ratio at January 31, 2018. (Round your calculation to two decimal places.) Choose from any list or enter any number in the input fields and then continue to the next question. The accounts of Red River Services, Inc., at January 31, 2018, are listed in alphabetical order. (Click the icon to view the accounts.) The Retained Earnings T-account is shown below: (Click the icon to view the T-account.) Read the requirements. Compute Red River's current ratio at January 31, 2018. (Round your calculation to two decimal places.) = Current ratio Now calculate Red River's debt ratio at January 31, 2018. (Round your calculation to two decimal places.) = Debt ratio during 2018. Red River's overall debt position has because the debt ratio has Overall, Red River's overall ability to pay current liabilities with current assets has Red River's debt position is because its debt ratio Data Table - X Accounts payable ................$ 12,800 Interest expense ............ $ 900 16,600 Accounts receivable .............. Accumulated depreciation, 15,500 14,100 5,700 equipment Advertising expense Note payable, long term ....... Other assets, long-term ...... Prepaid expenses ........... Retained earnings, January 31, 2017 6,900 11,200 ........... Cash........................... 18,000 4,200 Salary expense ............. Common stock ....... .. ................ Current portion of long-term ........ note payable ............... Depreciation expenseequipment ... 1,600 1,300 10,000 42,400 Salary payable .............. Service revenue ............ Supplies ................... Supplies expense ........... Unearned service revenue .... 13,000 26,600 3,300 95,500 4,000 4,600 2,600 Dividends declared ............... Equipment ...................... Print Done _ X Reference Retained Earnings 13,000 Expenses Dividends 44,600 Balance, January 31, 2017 10,000 Revenue Balance January 31, 2018 95,500 53,900 Print Done Is and then continue to the next